How Does Accounts Payable Automation Software Work?

Handling your AP activities manually diminishes your ability to with agility and accurately respond to merchants which concludes with lengthier cycles, pricier processing costs, less control, and consequently, unhappy vendors. Wave’s Accounts Payable Automation Solutions for the Memphis area improves the end-to-end AP system. We can help with SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Built On Best-In-Class Technology And Tailored To Your Organization Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our state-of-the-art invoice capture service receives and coordinates invoices from multiple places. OCR (optical character recognition) identifies and pulls out critical content, removing the possibility of errors and time resulting from with manual data entry.
Invoice

The invoice processor rapidly finds and reconciles exceptions, automatically correlates POs, and sends invoices through the approval process which can be completed from your computer or mobile device.
Data Delivery

Data delivery universally works with any ERP tool including SAP, Oracle, NetSuite, or a home grown portal.
Analytics

Gain operational insight into your AP protocol through reporting in real-time, spend less time and resources, and enhance throughput.
Supplier Portal

The supplier portal allows merchants to both input and manage their content, add additional files to facilitate communication, review the position of invoices or input them directly, and view purchase orders. This adds greater efficiency to your internal operations, improves vendor relations, and minimizes inquiries, invoice correlating issues, and overall time to process.

AP Automation Benefits

According to PayStream Advisors, the total expense related to invoicing is over $40 when processed by hand. “Quicker approval of invoices” is routinely cited by users as the highest benefit of an automated process, second to cost. In fact, data capture and workflow efficiencies can better AP processing time by as much as 81% and minimize operational costs by 92%.

Reduce Costs

Reduce price by stopping manual data entry and preparing.
Automate Processes

Fearlessly automate 90% or more of your AP processes, 3X expense savings in comparison to conventional operations, and 2% savings on yearly expenditures.
No Late Payments

Entirely get rid of late payments and missed savings by automating AP.
Improve Compliance

Improve compliance with company-wide protocols and administration.
Simplified Audits

Simplify audits with recorded processes.
More Control

Experience more oversight and clarity of cash flow.
Vendor Satisfaction

Better partner relations and improve the experience through self-service portals.
Quicker Actions

Quicker queries and approvals.